Marathon Acquires Majority Stakes in Three Kanjurmarg Projects

03 Apr 2026 CW Team

The company received intimation from the subsidiary on March 27, 2026, and has made disclosures to BSE and NSE under Regulation 30(6) of the SEBI listing obligations and disclosure requirements. By securing majority stakes, the subsidiary gains influence over project execution, enabling support for vertical expansion and strengthening the project pipeline. The acquisitions are expected to deliver operational synergies as all three entities operate in the same segment.

The group indicated that approximately 35 per cent of the projects are either already under construction or positioned for launch within the next 12 months, providing near-term revenue visibility and improved capital efficiency. The acquisition strategy is intended to accelerate cash flow realisation compared with greenfield cycles and to strengthen the developer's ability to convert inventory more rapidly. Management expects the initiatives to support faster revenue generation and to enhance shareholder value over the life of the projects.

Approximately 20 per cent of the project area has been earmarked as Permanent Transit Camp, under which constructed units are handed over to the Slum Rehabilitation Authority against other developers' requirements, enabling monetisation by catering to developers within a five kilometre radius and adjoining wards. The model is expected to benefit developers in Vile Parle East, Andheri East, Jogeshwari East and Goregaon East and to expand the company's role within the SRA redevelopment ecosystem. Marathon Group, founded in 1969, has operated for over 56 years and has completed more than 100 projects in Mumbai, providing design and execution capabilities to support integration of the acquired assets.

Marathon NextGen Realty Ltd said its subsidiary Nexzone IT Infrastructures Private Limited acquired a 51 per cent controlling interest in three entities, unlocking a combined gross development value of over Rs eight point four billion (bn) and a carpet area of zero point five nine four million (mn) sq ft in Kanjurmarg. The aggregate consideration amounts to Rs 700 million (mn) for six residential projects. The transaction gives the subsidiary majority control and aligns with the group's focus on residential and commercial development. The company received intimation from the subsidiary on March 27, 2026, and has made disclosures to BSE and NSE under Regulation 30(6) of the SEBI listing obligations and disclosure requirements. By securing majority stakes, the subsidiary gains influence over project execution, enabling support for vertical expansion and strengthening the project pipeline. The acquisitions are expected to deliver operational synergies as all three entities operate in the same segment. The group indicated that approximately 35 per cent of the projects are either already under construction or positioned for launch within the next 12 months, providing near-term revenue visibility and improved capital efficiency. The acquisition strategy is intended to accelerate cash flow realisation compared with greenfield cycles and to strengthen the developer's ability to convert inventory more rapidly. Management expects the initiatives to support faster revenue generation and to enhance shareholder value over the life of the projects. Approximately 20 per cent of the project area has been earmarked as Permanent Transit Camp, under which constructed units are handed over to the Slum Rehabilitation Authority against other developers' requirements, enabling monetisation by catering to developers within a five kilometre radius and adjoining wards. The model is expected to benefit developers in Vile Parle East, Andheri East, Jogeshwari East and Goregaon East and to expand the company's role within the SRA redevelopment ecosystem. Marathon Group, founded in 1969, has operated for over 56 years and has completed more than 100 projects in Mumbai, providing design and execution capabilities to support integration of the acquired assets.

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